Resale value of older EV

[Anonymous]

If I understand correctly, it’s very expensive to replace an EV’s rechargeable battery. So much so that after the battery fails, the car is totaled. Is that right? Sounds like a massive waste, if true. How do you dispose of such a car?

I’m interested in an EV, but am trying to think about the total cost and was considering potential residual value. Sounds like if you keep an EV 8 years, there may be no value at all.

[Anonymous]

No. Batteries are warrantied for 8 years but they last a lot longer than that.

I mean think about it— the Tesla Model 3 has been on the market for 8 years (and the model S was on sale 5 year before that)— has there been any news stories about thousands of Tesla owners having to junk their cars? A couple here or there might have had defective batteries but lemons occur in all kinds of cars.

[Anonymous]

If you buy used, you might get a good deal and have fewer worries about how fast the value drops.

I would likely do that if I were in the market.

[Anonymous]

The claim is that battery capacity degrades 2-3% year. So, if the battery’s original mileage capacity was small, the recharge capacity after ten years (70-80%) might make the car impractical for anyone other than someone in a small town doing nearby errands, like a retired person. The reduced mileage capacity could impact resale prices.

[Anonymous]

Engines wear out too. This isn’t a problem unique to EV’s. Many car engines fail at 8-10 years too. Most in fact.

[Anonymous]

Electric engines and batteries will last 15-20 years.

Electric engines are pretty simple and will remain working with little maintenance well beyond ICE engines.

Battery capacity degrades about 2% or less per annum if you don’t charge regularly with a supercharger. So, even after 10 years, there’s still 80% capacity.

[Anonymous]

Anonymous wrote:The claim is that battery capacity degrades 2-3% year. So, if the battery’s original mileage capacity was small, the recharge capacity after ten years (70-80%) might make the car impractical for anyone other than someone in a small town doing nearby errands, like a retired person. The reduced mileage capacity could impact resale prices.

The cars are built with reserve battery capacity to avoid that, and batteries are actually holding up better in practice than people expected because the pattern of actual use puts less demand on the battery than lab testing.

Again no one is seeing 30% loss in an 10 year old Tesla. Here’s an article suggesting a 12% loss after 200,000 miles.

https://cars.usnews.com/cars-trucks/advice/tesla-batteries

[Anonymous]

Anonymous wrote:Engines wear out too. This isn’t a problem unique to EV’s. Many car engines fail at 8-10 years too. Most in fact.

No, most internal combustion engines do not fail in 8 years.

[Anonymous]

Anonymous wrote:Electric engines and batteries will last 15-20 years.

Electric engines are pretty simple and will remain working with little maintenance well beyond ICE engines.

Battery capacity degrades about 2% or less per annum if you don’t charge regularly with a supercharger. So, even after 10 years, there’s still 80% capacity.

What’s an “electric engine”?

Never heard of such a thing. What is it burning?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Electric engines and batteries will last 15-20 years.

Electric engines are pretty simple and will remain working with little maintenance well beyond ICE engines.

Battery capacity degrades about 2% or less per annum if you don’t charge regularly with a supercharger. So, even after 10 years, there’s still 80% capacity.

What’s an “electric engine”?

Never heard of such a thing. What is it burning?

I think PP meant electric motor

[Anonymous]

Anonymous wrote:Engines wear out too. This isn’t a problem unique to EV’s. Many car engines fail at 8-10 years too. Most in fact.

Wut? My IC vehicles are 15 and 21 years old. I know many people with cars older than 15 years without engine issues. I've had ones before that lasted 10+ years.. Both totalled for other reasons, not engine failure.